Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Popular Inc. shares valued at $391,779 were sold by CESTERO LUIS E. on Mar 08 ’24. At $84.42 per share, CESTERO LUIS E. sold 4,641 shares. The insider’s holdings dropped to 26,772 shares worth approximately $2.32 million following the completion of this transaction.
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Also, CESTERO LUIS E. sold 599 shares, netting a total of over 51,269 in proceeds. Following the sale of shares at $85.65 each, the insider now holds 0 shares.
Before that, Soriano Lidio had sold 12,922 shares from its account. In a trade valued at $1,121,294, the Executive Vice President traded Popular Inc. shares for $86.77 each. Upon closing the transaction, the insider’s holdings decreased to 12,922 shares, worth approximately $7.67 million.
As published in their initiating research note from Barclays on March 08, 2024, Popular Inc. [BPOP] has been an Overweight and the price target has been revised to $99. Analysts at Citigroup started covering the stock with ‘”a Buy”‘ outlook in a report released in early December. As of October 10, 2023, BofA Securities has initiated its “Neutral” rating for BPOP. Earlier on April 06, 2023, Keefe Bruyette upgraded its rating. Their new recommendation was “an Outperform” for BPOP stock which previously was a “a Mkt perform”.
Analyzing BPOP Stock Performance
During the last five days, there has been a surge of approximately 5.73%. Over the course of the year, Popular Inc. shares have jumped approximately 5.65%. Shares of the company reached a 52-week high of $89.70 on 01/30/24 and a 52-week low of $79.01 on 01/17/24. A 50-day SMA is recorded $83.86, while a 200-day SMA reached $72.04. Nevertheless, trading volume fell to 0.54 million shares from 0.33 million shares the previous day.
Support And Resistance Levels for Popular Inc. (BPOP)
According to the 24-hour chart, there is a support level at 85.75, which, if violated, would cause prices to drop to 84.79. In the upper region, resistance lies at 87.52. The next price resistance is at 88.33. RSI (Relative Strength Index) is 60.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.97, which suggests the price will decrease in the coming days. Percent R is at 11.57%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Popular Inc. subject to short interest?
Stocks of Popular Inc. saw a sharp steep in short interest on Feb 29, 2024 dropping by -0.18 million shares to 0.86 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 1.04 million shares. A decline of -20.68% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.97 of the overall float, the days-to-cover ratio (short ratio) decline to 1.97.
